According to a company statement, the four-month-long accelerator programme is the first privately structured accelerator in East India.
The advisory board consists of Joydeep Bose (ex Cisco India head, investments); Padmaja Ruparel (President IAN); Sanjaya Anandaram (co-founder Seed fund) and Dipankar Chaterji.
The funding comes from angels who have subscribed to the accelerator. The funding amount would typically be between $37K – $75K (INR 20-INR 50 Lacs) from Neoleap angels.
The accelerator has already selected three startups for its first batch. They will graduate in December 2016.
The startups from the first cohort are –
TeaRaja: Kolkata-based TeaRaja has tied up with more than 175 Tea Gardens in India and Nepal, from where it sources tea to be consumed by tea connoisseurs across the globe.
HealthBuds: Kolkata-based HealthBuds was founded in 2014. It provides 360-degree services, ranging From hospitals, specialists, concierge services, medical insurance, specialised treatments, etc.
MachineHire: Raipur-based MachineHire is an online B2B marketplace for all types of heavy earth-moving construction machines where users can hire/rent/buy/sell machines hassle-free. Through its platform contractors/vendors can hire as well as rent their machines when idle by using real-time data of available machines or works.